You’re watching another edition of the Support and Resistance Level Report. Here’s how our in-house model tests out on Wednesday.
First up is the Euro/Dollar, which has the closest levels of 1 1130 in resistance and 1 1050 in support.
R2 leads in resistance with 4 confirmations and it’s a 100 day moving average. R1 and R3 both have 3 matches. The closest line is a 150 day moving average and R3 is a 50 day moving average. S1 is backed up by a Bollinger lower band and 5 more models. S2 is a psychological level with a total of 4 matches and 3 alternative studies are near S3, which is a price channel indicator lower line.
The Cable finds itself below R1 of 1 3470 and above S1 of 1 3220.
R2 has a psychological level among its 2 matches. R1 and R3 both have just a single confirmation and the closest line is a Bollinger lower band. S1 has a weekly low among its 4 matches. S2 follows with 2 confirmations, including a price channel indicator lower line. S3 is a psychological level.
Dollar/Yen has rebounded from R1 of 102 80 and the pair has S1 of 101 50.
R3 is the most confirmed resistance level with 5 matches, including a 20 day moving average. R1 follows with 3 confirmations and R2 is a psychological level. S2 is also a psychological level and it’s near a total of 3 models. S1 and S3 both have 2 matches. The first line is a Bollinger lower band and S3 is a price channel indicator lower line.
Last up is the Dollar/Swiss Franc, which stands between R1 of 0 9830 and S1 of 0 9750.
A 150 day moving average is one of the 4 confirmations for R1. R2 and R3 both have 3 matches. The second line is a Bollinger upper band and R3 is a price channel indicator upper line. S1 leads in support with 5 matches and it’s a 100 day moving average. S2 and S3 both have 2 matches. S2 is a 20 day moving average and S3 is a price channel indicator lower line.
I’m Lucy Palfreeman and that’s all for Wednesday’s Support and Resistance Level Report. We’ll be back tomorrow with the next overview of key price levels, so see you then.
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